JB Chemicals & Pharmaceuticals Ltd share price has broken below a downward trend line with higher volumes on the daily chart. The short term trend of the stock is positive as it is trading above its 5 and 20 day EMA (exponential moving average), highlights brokerage house HDFC Securities.
share chemical stock As its top e-margin positional pick, the brokerage and research firm has assigned a buy rating to JB Chemicals stock based on technical trends, with a target price of Rs. ₹1985, 2100 and stop loss ₹1,600 with a time limit of up to three months.
“RSI (Relative Strength Index) and MFI (Money Flow Index) oscillators are placed above 50 and are trending upwards, indicating strength in the current uptrend. Also, the DI is trading above the -DI while the ADX line is above 25, indicating momentum. Current uptrend,” highlighted the brokerage note.
Established in 1976, JB Chemicals & Pharmaceuticals Limited (JBCPL) is an integrated, research-oriented, public listed organization with a focus on both India and International markets. JBCPL exports to more than 30 countries around the world and generates more than half of its revenue from its international business.
JBCPL is involved in manufacturing a range of specialty products which includes various pharmaceutical dosage forms such as tablets, injectables (vials, ampoules, form fill seals), creams and ointments, lozenges, herbal liquids and capsules.
Shares of JB Chemicals have gained over 69% in the one-year period, while the stock has delivered multibagger returns of over 401% over the past five years. ₹Currently hovering around 348 per share level ₹1,746 each.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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